Top 10 place kept for 2-yr fixed ISA

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Coventry Building Society has reduced the rate paid on its two-year fixed ISA by 0.20%, but despite this, it has retained its coveted place on the Moneyfacts charts.

The basics…

The two-year version of Fixed Rate ISA (32) now pays 1.85% yearly to 31.5.18, allowing it to maintain its place among the top 10 accounts of its sector.

The finer details…

This account can be opened and operated in branch, by post, by phone and online with a minimum investment of just £1.

Additions can be made for up to 14 days after the account has been opened or while the issue is open, whichever is longer. Transfers in of other cash and stocks & shares ISAs are also permitted.

Withdrawals, on the other hand, are not allowed, but early access prior to maturity is possible upon closure of the account and the loss of 120 days' interest, the same penalty as applies to transfers away.

Why we like it…

This ISA may have had a rate reduction, but it is still a force to be reckoned with in the market. Boasting a top 10 rate, this deal also gives savers the flexibility to make further additions, albeit for a limited time, as well as transfer in existing ISA savings. The fact that funds can also be accessed early if absolutely necessary is also a highly appealing feature.

Moneyfacts rating: Excellent

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.